Message for Paul McCartney: make the most of the your time as the planet’s richest musician. At 4pm today, you’ll be waving farewell to the title.

Later this afternoon, Facebook’s shares will begin trading on the Nasdaq exchange. U2 vocalist Bono has a 2.3% stake in Facebook through his Elevation Partners investment project. Having originally paid $90m for shares, your aunt’s favourite jet collector is set to reap a throat-tightening $1.5bn windfall.

MTV report that the payday will make the Irishman the biggest earner in music. McCartney’s fortune is currently valued at $1.05bn, so Bono should leapfrog the former Beatle with ease. U2 are currently back in the studio – Bono’s still got bills to pay, you know.

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